Purchasing power weak, prices stable

It was recorded that the purchasing power at traditional markets and supermarkets in Ho Chi Minh City on the sixth day of the first month in the lunar calendar was fairly weak despite several promotions and stable prices.

Maintaining promotions

Ms. Nguyen Thi Yen, a resident in Go Vap District, went shopping for the second time at Emart supermarket near her house on the morning of the sixth day of Lunar New Year. After paying a bill of more than VND1 million, she commented that the prices of goods there had been stable since before the Lunar New Year with many promotional programs. The number of customers was not as high as in previous years, so the scene of people jostling and waiting in line at the checkout counters no longer happened.

Commercial centers, supermarket chains, convenience store chains of Saigon Co.op, MM Mega Mart, Satra, Aeon, and BigC also experienced the same situation. The shopping vibe was quite calm compared to previous years. However, the volume of goods was extremely diverse, abundant, and full on the shelves at stable prices like before the Lunar New Year with many attractive promotions to boost demand. Preliminary statistics show that people only buy fresh items, such as vegetables and pork, with a purchasing power nearly half that of normal days.

A representative of the Ho Chi Minh City Department of Industry and Trade said that besides committing not to raise the selling prices before, during, and after the Lunar New Year one month, enterprises and retail systems participating in the market stabilization program also increase promotions until the end of the tenth day of the Lunar New Year.

Rarely go shopping

Traditional markets, such as Ben Thanh, Thi Nghe, Binh Trieu, and Ba Chieu, have reopened, but the number of customers going shopping at these markets was small. Goods are fully available and maintain stable prices. The price of some fruits for the Tet holiday even has decreased. “This year, foreign tourists do not come due to the pandemic, so the small traders who reopened business only reach 30% of the capacity out of a total of 1,500 stalls. Customers mainly buy essential foods, such as vegetables, fruits, and fresh meat. The stalls selling clothes, cosmetics, and shoes are poorly patronized," said Mr. Ngo Van Ha, Head of the Ben Thanh Market Management Board.

Similarly, Mr. Huynh Thanh Truong, Head of the Market Management Board of Ba Chieu Market, informed that only about 30% of 1,300 stalls reopened but mainly supplied essential goods, vegetables, fruits, and fresh goods. Due to the impact of the pandemic, people have tightened their spending and switched to online shopping. As a result, the purchasing power is not as vibrant as in previous years.

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